An agreement in which an investment bank agrees to do its best to sell an offering of securities to the public, but doesn’t actually buy the securities. If it is unable to sell all the securities, it is not liable for the unsold inventory.
An agreement in which an investment bank agrees to do its best to sell an offering of securities to the public, but doesn’t actually buy the securities. If it is unable to sell all the securities, it is not liable for the unsold inventory.